In a bid to attract greater investment, Deputy President Paul Mashatile has called on business leaders to expand trade between South Africa and France.
Image: file
In a bid to attract greater investment, Deputy President Paul Mashatile has called on business leaders to expand trade between South Africa and France.
IOL previously reported that Mashatile arrived in France on Monday as part of a visit aimed at “reinforcing South Africa’s historic and warm bilateral relations with France by expanding on existing cooperation projects, as well as identifying new areas of cooperation with a specific focus on trade and investment.”
Last week, global rating agency Moody’s downgraded South Africa’s growth forecast for 2025 because of sluggish economic activity and deteriorating global trade relations. President Cyril Ramaphosa also met with US President Donald Trump at the White House on Wednesday in an effort to repair ties and enhance trade between the two nations.
During a business conference in France, Mashatile emphasised that South Africa was open for business and outlined the country's proactive measures to facilitate ease of doing business.
“We must move faster. So, we are busy in South Africa now looking at regulations, our procurement policies and legislation to ensure there’s an ease of doing business,” Mashatile said according to the SABC.
Mashatile previously announced that the government plans to spend more than R940 billion on infrastructure over the next three years.
"The South African Government has committed to spending more than R940 billion on infrastructure over the next three years. This funding will revitalise our roads and bridges, build dams and waterways, modernise our ports and airports, and power our economy," Mashatile said.
"Moreover, investors have an opportunity to collaborate with the South African Government by investing in infrastructure such as ports, rail, electricity, and manufacturing to improve local value-addition and boost trade under the African Continental Free Trade Area," he added.
mthobisi.nozulela@iol.co.za
IOL Business